Shares of Skyworks Solutions, Inc. (SWKS: Quote) surged more than five percent in extended trade on Wednesday after the analog and mixed signal semiconductor maker reported results for the fourth quarter that topped analysts' expectations. The company also issued earnings and revenue guidance for the first quarter of fiscal 2014, above Street view.

The company reported a profit for the quarter that increased from last year, reflecting improved margins and double-digit revenue growth.

"Skyworks continues to outperform as we expand our diversified market footprint, gain content with customized analog solutions and capitalize on global demand for the Internet of Things. We are effectively executing our strategy to deliver the growth of connectivity along with analog semiconductor financial returns," President and CEO David Aldrich said in a statement.

The Woburn, Massachusetts-based company reported net income of $84.2 million or $0.44 per share for the fourth quarter, higher than $61.6 million or $0.32 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $121.2 million or $0.64 per share, compared to $103.5 million or $0.53 per share in the year-ago quarter.

On average, 19 analysts polled by Thomson Reuters expected the company to report earnings of $0.62 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues for the quarter increased 13.3 percent to $477.0 million from $421.1 million in the same quarter last year, and topped eighteen Wall Street analysts' consensus estimate of $474.72 million by a whisker.

For fiscal 2013, the company reported net income of $278.1 million or $1.45 per share, higher than $202.0 million or $1.05 per share in the prior year. Excluding items, adjusted net income for the year was $423.5 million or $2.20 per share, compared to $365.6 million or $1.90 per share in the year ago.

Net revenues for the full year grew 14 percent to $1.79 billion from $1.57 billion in the previous year.

Analysts expected the company to report full-year 2013 earnings of $2.19 per share on annual revenues of $1.79 billion.

"Based on our product innovation, proprietary solutions and track record of operational execution, we've created a differentiated business model. As a result, we are well positioned for sustainable above-market growth and shareholder value creation," Aldrich added.

Looking ahead to the first quarter or fiscal 2014, the company expects adjusted earnings of $0.66 per share on projected revenues $500 million. Street is currently looking for fourth-quarter earnings of $0.65 per share, on revenues of $494.64 million.

U.S. electronics giant Apple Inc. (AAPL) regained the top spot in the world smartphone market from South Korea's Samsung Electronics Co Ltd. after a gap of three years, according to a report released Tuesday by market research firm Gartner, Inc. (IT).
Apple sold 74.832 million smartphones in the...